Why Billionaires Like Bill Gates Can’t Fix the Problems They Helped Create
Key Excerpts from Article on Website of New York Times
Posted: May 31st, 2021
For years, the Gates Foundation has been steered by an unusually small board of trustees, made up of Bill, his estranged wife, Melinda, and the billionaire investor Warren Buffett. The larger the foundation became, the less anyone seemed willing to ask tough questions about its secretive management structure or its penchant for giving money to lucrative pharmaceutical and credit card companies such as Mastercard, despite the fact that giving away billions to wealthy corporations set an unusual and troubling precedent in the philanthropic sector. Billionaires who make their fortunes through corporate practices that undercut workers and deepen inequality — like corporate tax avoidance, insufficient sick pay and the immoral gap in pay between executives and low-paid workers — are not the solution to problems they generate. Asking Bill Gates to fix inequality is like asking an arsonist to hose down your house after he just set it on fire. In April last year, the University of Oxford was reportedly considering offering a Covid-19 vaccine developed by its scientists on a nonexclusive basis. But then, Kaiser Health News reported, “Oxford — urged on by the Bill & Melinda Gates Foundation — reversed course. It signed an exclusive vaccine deal with AstraZeneca that gave the pharmaceutical giant sole rights and no guarantee of low prices.” This dealmaking .. seemed to conflict with the Gates Foundation’s stated mission to improve global access to medicines, but it’s not surprising.
Note: Read more about the Gates Foundation's startling degree of media influence during the pandemic. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the coronavirus vaccine from reliable major media sources.